State Power Investment Corporation (“SPIC”) recently signed a strategic cooperation framework agreement with the Shanghai Municipal Government.
According to the deal, both sides will strengthen their cooperation in the following aspects:
- Create a scientific &innovation highland—SPIC, together with the relevant scientific institutions and manufacturers, will participate actively in the Scientific & Innovation Center construction in Shanghai, and to fully carry out the national major special project of the heavy turbine and promote the clean energy utilization in Shanghai.
- Support the “One belt One road” policy— Relying on the Shanghai’s Pilot Free Trade Zone, SPIC will join hands with some heavy equipment manufacturers and the Institutions located in Shanghai to explore the international market and export China’s technology, equipment, service, management and standards.
- Deepen the SOE reform—As Shanghai owns the resources and platform as the international finance center, the SPIC will establish the industry fund and the venture capital fund together with the Shanghai enterprises or the Foundations.
